Rivian announced the creation of a brand new micromobility firm known as Additionally. The deal contains $105 million in Collection B funding from enterprise capital agency Eclipse and can deal with the event and manufacturing of light-weight electrical autos like bikes and scooters.
“For the world to totally transition to electrified transportation, a spread of auto sorts and type components will likely be wanted,” mentioned Rivian Founder and CEO RJ Scaringe in an announcement. “I’m extraordinarily excited concerning the improvements developed by the Additionally group that can underpin a spread of extremely compelling micromobility merchandise that can assist outline new classes.”
Rivian says its began a “stealth program” targeted on micromobility several years ago, recognizing “an enormous want” for extra smaller, lightweight electrical autos like bikes and scooters. It couldn’t have been that stealth, contemplating Scaringe was on stage at Tech Disrupt in 2023 speaking about his curiosity in “multimodal” transportation, together with e-bikes. The company has also filed a trademark for e-bikes and scooters, signaling its curiosity in increasing its product lineup.
Rivian is thought for its flagship EVs, the R1S SUV and R1T truck, each of that are very huge, very heavy, and really costly. The extra reasonably priced R2 and R3 vehicles are underneath improvement and anticipated to enter manufacturing beginning in 2026. An much more light-weight private mobility machine can be a welcome addition for Rivian followers, who love the corporate’s out of doors, adventure-themed picture.
Rivian says it’s going to retain a “substantial minority possession stake” in Additionally, and expects to function the corporate’s merchandise at its personal retail areas sooner or later. Scaringe will function chair of Additionally’s board of administrators.
Regardless of the income alternative offered by the brand new class, automobile makers have but to search out any notable success with their e-bikes regardless of manufacturers like Porsche, Mercedes, Jeep, GM, Hummer, and others all giving it a go. The e-bike trade goes by way of some rising pains, too, with VanMoof submitting for chapter and Rad Energy Bikes cycling through a series of executives.